PGN, SCG, FPL and EAS
CHICAGO, April 18 /PRNewswire/ -- As the economy recovers, businesses
across the country will require more energy to increase production. Timothy
Winter, 5-Star analyst from A.G. Edwards, gives investors his insight into the
sector and which companies are the best bets for 2002.
(Photo: http://www.newscom.com/cgi-bin/prnh/20010924/CGM015LOGO )
Here are the details on Analyst Timothy Winter's Stock Picks for today:
Progress Energy Inc. (NYSE: PGN) is a holding company engaged in the
generation, transmission, distribution and sale of electricity in portions of
the Carolinas and Florida, as well as the transport, distribution and sale of
natural gas in portions of North Carolina.
The Company has acquired Florida Progress Corporation (FPC), a diversified
electric utility holding company. Florida Power, FPC's largest subsidiary, is
a regulated public utility engaged in the generation, transmission,
distribution and sale of electricity. The company expects to grow its
business 5% plus per year after these merger synergies are achieved. Winter
feels this company should add to its earning growth and expects EPS in 2002 to
be $4.00 and increase to $4.25 in 2003. His 12-month price target is $54.
Scana Corp. (NYSE: SCG) is registered as a public utility holding company.
SCG neither owns nor operates any physical properties, and has 11 direct,
wholly owned subsidiaries that are engaged in functionally distinct
With a secure dividend and growing business, Winter expects EPS to be
$2.45 in 2002, up from $2.15 in 2001 and growing to $2.60 in 2003. Although
SCG is trading at its 52-week high, Timothy expects the 12-month price target
to be 10% greater at $34.
FPL Group Inc. (NYSE: FPL): Florida Power & Light Co. (FP&L Co.) a wholly
owned subsidiary of FPL Group (NYSE: FPL) is among the largest and fastest
growing electric utilities companies in the United States.
Winter likes the strength and stability of Florida Power & Light Co. and
the generally supportive regulatory environment. Operational excellence is
evidenced by 10 consecutive years of declining operation and maintenance (O&M)
expenses, which are down 40% since 1990. The estimated EPS for 2002 is $4.85
and $5.25 for 2003 as FPL adds more customers through its expansion program.
Energy East (NYSE: EAS): The company's principal energy delivery business
is transmitting and distributing electricity in New York and Maine and
transporting, storing and distributing natural gas in New York, Connecticut,
Maine, Massachusetts and New Hampshire.
Since EAS doesn't generate electricity, but is a regulated distributor,
Winter believes they will benefit by a recovering economy and through recent
consolidations throughout the Northeast. He feels this is a low risk stock
that pays a handsome $.96 dividend and expects that to grow between 4%-5% per
year. EPS estimates in 2002 are $1.60 and are expected to increase to $1.90
in 2003. This earnings and dividend growth make EAS a conservative choice
with a 12-month price target around $23.
To read the entire article with Timothy's sector commentary, go to
About Zacks All Star Analyst Survey
Do you want to know which brokerage analysts are the best stock pickers in
their field and what stock they're recommending today? Find out with the
Zacks All Star Analyst survey.
This exclusive survey, created with Fortune Magazine, reveals the "Best-
of-Breed" brokerage analysts. They are the select group of winners from a
field of 5,500 brokerage analysts - the ones who consistently beat the street
- the few you should be following. Visit http://www.allstarhome.zacks.com .
Stock Picks from All Star Analysts Highlighted in FREE Investment
Each week, Zacks Investment Research highlights another All Star Analyst
and their hottest stock picks in the FREE e-mail newsletter, "Profit from the
Pros." You'll also discover the "All Star Portfolio," the exclusive stock list
comprised only of stocks where 4 or more All Star Analysts consider it a
strong buy. The only way to get these powerful insights is with a FREE
subscription to the "Profit from the Pros" investment newsletter. Just visit
Zacks.com is a property of Zacks Investment Research (CRD #7874), which
was formed in 1978 to compile, analyze, and distribute investment research to
both institutional and individual investors. The guiding principle behind our
work is the belief that investment experts, such as brokerage analysts and
investment newsletter writers, have superior knowledge about how to invest
successfully. Our goal is to unlock their profitable insights for our
customers. And there is no better way to enjoy this investment success, then
with a FREE subscription to "Profit from the Pros" weekly e-mail newsletter.
For your free newsletter, visit http://www.freeprofit4.zacks.com .
Zacks Investment Research is under common control with affiliated entities
(including a broker-dealer and an investment adviser), which may engage in
transactions involving the foregoing securities for the clients of such
Disclaimer: Past performance does not guarantee future results.
Investors should always research companies and securities before making any
investments. Nothing herein should be construed as an offer or solicitation to
buy or sell any security.
CONTACT: Terry Batey of Zacks.com, 312-630-9880, ext. 307,
MAKE YOUR OPINION COUNT - Click Here
SOURCE Zacks Investment Research
/CONTACT: Terry Batey of Zacks.com, +1-312-630-9880, ext. 307,
/Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010924/CGM015LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840/
/Web site: http://www.zacks.com
(PGN SCG FPL EAS)
CO: Zacks Investment Research; Zacks.com; Progress Energy Inc.; Scana Corp.;
FPL Group Inc.; FPL Group; Energy East
IN: FIN PUB MAG
-0- Apr/18/2002 10:02 GMT
Press spacebar to pause and continue. Press esc to stop.